How psilocybin therapy is unlocking new hope for treatment-resistant depression

November 12, 2025
Black Dog Institute

Since 2017, depression has been the leading cause of illness and disability worldwide. Today, there are an estimated 332 million people around the world who live with depression and its associated symptoms, which can negatively impact work and school, as well as relationships with family and friends.

Around 30% of people with depression have what’s known as treatment-resistant depression (TRD), a condition in which their symptoms do not improve after trying at least two separate antidepressant medications. People with TRD face increased risk of suicidality, highlighting a critical gap in care that urgently needs to be addressed.

After decades of limited progress, new and emerging treatments such as ketamine and repetitive transcranial magnetic stimulation (rTMS) are beginning to offer hope for people who need better options.

Now, researchers at Black Dog Institute are building the evidence base for another promising intervention: psilocybin-assisted therapy.